04 Oct 2016
Pay for women in the UK is only increasing to match that of their male colleagues at a rate of 2.5p each year, which means that women would not receive the equivalent salary until 2069, according to research by Deloitte. However, as the Government are now placing a heavy focus on gender pay reporting, with new legislation coming into force in April 2017, organisations may have to act more quickly. Clare Parkinson – Business Manager at Croner Reward – comments: “When an organisation’s gender pay report becomes publicly accessible from 30th April 2018, those who have not taken steps to close the gap between male and female earnings could face criticism, which would force them to take action. We are advising our clients to protect themselves and start reviewing the pay gap now. “Companies should consider measures such as a job evaluation exercise to grade roles or to test their existing structure; or pay benchmarking to align salaries both internally and externally. “It is also important that reward professionals are suitably equipped if they are to comply with Government guidelines. Our own research into this subject highlighted that 60% of participants had never conducted a pay audit; and of those that had, 72% did not know if they had analysed their employee population using Government-preferred categories.” To find out more about Croner Reward’s gender pay reporting service, please call 0844 728 0103 or e-mail email@example.com.
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